CO2 Lock Corp
Using the earth’s minerals to remove carbon from the atmosphere — permanently.
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CO2 Lock Corp is a Foresight 50 2023 Honouree
Using the earth’s minerals to remove carbon from the atmosphere — permanently.
Carbon Capture, Utilization, and Storage (CCUS) technologies are a key pathway to decarbonizing hard-to-abate sectors and achieving Canada’s 2030 and 2050 decarbonization goals. CO2 Lock is developing large-scale, permanent, affordable, and verifiable carbon management solutions. Our process utilizes brucite-rich serpentinized peridotites as host rock for transforming CO2 into a solid carbonate to deliver Carbon Dioxide Removal (CDR) of atmospheric CO2 and permanent carbon storage as part of a CCUS value chain. Carbon mineralization for both CDR and CCUS is utilized commercially for carbon management in different rock types — CO2 Lock’s serpentinized peridotites are rich in the mineral brucite.
These deposits provide significant mineral capacity and reaction rate advantages over other rock types, leading to cost and risk reduction. CO2 Lock has several differentiators including low-cost proprietary analysis techniques developed in-house, a database and rock samples from potential project sites globally, and a team with significant mineral exploration, project development, and capital experience. CO2 Lock owns an initial project site near Prince George, BC where the company’s goal is for this single site to mineralize one million tonnes of CO2 per annum (Mtpa) at a cost of approximately $50/tonne; there are more than 6 Mtpa of hard-to-abate CO2 emissions within economically feasible range of this site.
CO2 Lock has privately raised $2.8M and is in the process of conducting field trials of both ex-situ CDR and in-situ CCUS carbon mineralization processes, and is working with multiple partners to upscale this process through to pilot scale with customers. Similar deposits exist in many areas of the world, including many areas without access to other carbon storage facilities, and the company believes it could feasibly scale to 500 Mtpa, making CO2 Lock a significant contributor to reducing the level of CO2 in Earth’s atmosphere.
Why our venture should be considered one of Canada’s 50 most investable cleantech companies:
CO2 Lock is approaching a key inflection point for valuation, going from a decade of lab and bench scale work to field trials. We are uniquely positioned to capitalize on the opportunity to scale into a market with significant growth. CO2 Lock’s technology can impact many regions of Canada and the globe, helping reduce CO2 emissions and scale globally in a way that competitors focused in specific areas like mine tailings and alkaline waste streams cannot. These projects can add high paying infrastructure jobs, protect existing jobs in hard-to-abate industries, and contribute to economic resilience. We believe Indigenous reconciliation and relationships are key components of project success.
CO2 Lock’s first project site is on the traditional territory of the L’hedli Tenneh. We believe carbon management can be a tool for economic reconciliation, and that early consultation with First Nations is a key metric for any investor looking at infrastructure projects in Canada, and globally. CO2 Lock addresses a growing need for durable carbon storage — there’s >6MTPA near the first project site where CO2 Lock partnered with an industrial Point Source Capture company and transporter to offer a full CCUS value chain solution to nearby industry. Once successful here, the market offers huge potential as the need for CCUS increases with a projected CAGR >25 per cent over the next decades.